The West

CSL full year profit soars
CSL full year profit soars

Blood products group CSL has increased its annual net profit by 4.5 per cent and flagged higher earnings in the year ahead as well as another possible share buyback.

CSL today said its net profit for the 12 months to June rose to $982.6 million, from $940.6 million in the previous year.

Total revenue rose to $4.4 billion from $4.2 billion.

CSL said its profit result was hit by an unfavourable foreign currency exchange charge of $108 million as a result of the stronger Australian dollar.

On a constant currency basis, net profit was 16 per cent higher at $1.1 billion.

Managing director Dr Brian McNamee said trading conditions in fiscal 2013 were expected to remain similar to those in 2012, with CSL anticipating a 12 per cent rise in profit on a constant currency basis.

"Earnings per share growth will again exceed profit growth expectations as shareholders benefit from the ongoing effect of share buybacks," he said in a statement.

"I'm pleased to foreshadow that, following completion of the current buyback program, the board will consider new capital management initiatives, which may include a further on-market share buyback program of up to $900 million."

CSL declared an unfranked final dividend of 47 cents a share, up from 45 cents previously.

The West Australian

Latest News From The West

Popular videos

Follow Us

More from The West